Adam Back, CEO of Blockstream, has projected that Bitcoin's price could soar to between $500,000 and $1 million, citing its current undervaluation. Back attributes this potential rise to increasing institutional inflows, supportive policies, and Bitcoin's inherent scarcity. The U.S. market has already witnessed over $41 billion in Bitcoin ETF inflows, with major firms like BlackRock and Fidelity at the forefront. Back likens Bitcoin's market dynamics and adoption to that of gold, suggesting significant upward potential if these factors continue to align.
Adam Back Forecasts Bitcoin Could Hit $1 Million with Institutional Support
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